Vice President, Yemi Osinbajo has come out to say that Nigeria is still a major trading partner with Canada among countries in Africa.
He revealed this at the Nigeria-Canada Investment Summit 2019 with the theme: Reaching Greater Heights.
According to him, Nigeria is one of the 10 reforming economies across the globe and the summit concentrates on the 6 major sectors of Nigeria’s economy.
His words, “The six sectors listed in the summit namely: Education, Healthcare, Mining, Power, Infrastructure, and Agriculture, are the crucial sectors and are very important for the Nigerian economy.
“We encourage all our partners to maximise all the platforms provided and prospects available for businesses to prosper. Our trade and investment sector in Nigeria has remained a major trading partner to Canada in Africa.
“Canada import includes minerals, fuel, cocoa, rubber and many more while it exports vehicles equipment, manufacturing equipment and software.
“We have also increased double taxation agreement in 1999. We expect our foreign investment and promotion to be concluded by both countries as early as possible in 2020.
“However, the next few years promise to be exciting for businesses in Nigeria.”
The Director-General, West and Central African Global Affairs for Canada, Mr. Tarik Khan, also noted that Nigeria remains the largest trade and investment partner to Canada in Sub-Sahara Africa.
He said, “As far as our investment is concerned in 2018, Canadian direct investment in Nigeria reported 500 million Canadian dollars, Nigerian represent an attractive market in business services as the third-largest export market in Africa.
“The potential for growth as the Excellency mentioned is significant, in areas of technology, ICTs, Agriculture, Creative Industries, Aviation, Education and Technical Vocational Training in our communities’ projects.
“I am convinced that Nigeria is also an important future market that holds untapped opportunities for Canadian companies, and its young dynamic entrepreneurial population has natural capabilities towards innovation.”
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